KEY POINTS:
Two New Zealand business success stories were recognised this week as joint winners of the Gen-i New Zealand start-up company of the year.
Auckland-based technology companies eBUS and OpenEye Displays shared the award which caps off an exciting year of development for both companies.
Camine Masiello, founder of
eBUS claims his business story is short, but a mere 18 months after starting eBUS, a technology company servicing the film and television industry, he is beginning global expansion.
Originally from Naples in Italy, Masiello spent 20 years working in film post-production in Rome before taking a break sailing round the world with his wife and son.
A month long stopover in New Zealand three years ago has stretched into a permanent move and the establishment of eBUS, which produces video management and archiving technology.
The product allows television commercials and other video to be sent digitally between production companies and television stations.
"Traditionally, when an agency finished producing a TV commercial they have to make a copy of the TV commercial. So, if they are planning to go on air on TV3, on Prime Television and on TVNZ, they have to do three copies, call three couriers and send the tapes to these place," said Masiello.
While there are benefits for New Zealand media companies Masiello said the real growth potential will come from Asia where distance between production companies and television stations is an issue.
"If you doing something in Singapore that has to be delivered to Jakarta it may take two days, because it gets stuck in customs or stuff like that. We believe that our service in these markets could be even more valuable," he said.
One of the award judges Simon Brown, chief executive of Kea New Zealand, said Masiello was able to sign up four New Zealand post-production companies, who are competitors in the market place, on the vision of what he could create.
"He created such a compelling vision that they said they wanted to take equity in the business before he even created the product," said Brown.
Masiello said the strong partnerships ensured the company was cashflow positive from the first month of operation.
"The company is already profitable with the operations here in New Zealand and is actually funding the expansion throughout Asia with the cashflow coming from the New Zealand operation," he said.
Fellow award winner OpenEye Displays is also funding overseas expansion from current cashflow without having to resort to raising further capital.
Company head Gareth Croy is due to leave New Zealand and live between New York and London in order to break into those markets with his unique instore digital displays.
Awards judge Simon Brown said that is the final step that many entrepreneurs are not willing to make.
"That total commitment and recognising in this global world you have to be customer focussed," Brown said.
International travellers to Auckland Airport will have encountered the OpenEye digital advertising in Regency Duty Free Stores.
Travellers arrive to the sound of Dave Dobbyn welcoming them home played from directional speakers. As they approach the screen advertising raspberry infused vodka, they will be enveloped in the scent of raspberries, Croy said.
"We call it a 360 degree brand platform. The idea is to try and touch three of the five senses."
Using partnering to break into the global markets has meant signing an agreement this week with 3M in the United Kingdom.
"Those partners, particularly in Europe, have bought in quite a lot of growth for us and will do over the coming years," said Croy.
Croy was also recipient of the entrepreneur of the year award, recognising his personal achievements.
Both companies are based at Auckland business incubator The Icehouse.
Other award winners were:
* Start-up Exporter of the Year: HTS-110 Ltd from Industrial Research Limited's incubator in Lower Hutt
* Innovation of the Year: ShapeShifter Technology from the Canterbury Innovation Incubator in Christchurch
* Hall of Fame Award: Optimal Usability from Creative HQ in Wellington
http://www.openeyedisplays.com
http://www.ebus.co.nz